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Press Release: Hemoglobinopathy Market to Surpass US$ 1,001.6 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Hemoglobinopathy a group of hereditary blood disorders involving an abnormality in the structure of hemoglobin. . These disorders include both sickle cell disease (SCD) and thalassemia. Common symptoms of the condition include, severe pain, shortness of breath, enlarged spleen, and growth problems in children.
The global hemoglobinopathy market is estimated to account for US$ 523.4 Mn in terms of value in 2019 and is expected to reach US$ 1,001.6 Mn by the end of 2027.
Global Hemoglobinopathy Market: Drivers
Increasing prevalence of sickle cell disease is expected to propel growth of the global hemoglobinopathy market over the forecast period. For instance, the study, ‘Prevalence of sickle cell disease and sickle cell trait among children admitted to Al Fashir Teaching Hospital North Darfur State, Sudan’, published in October 2019, reported a prevalence of 59 for sickle cell disease.
Moreover, government initiatives for the management and treatment of hemoglobinopathies is also expected to aid in growth of the market. For instance, in August 2018, the Ministry of Health and Family Welfare, Government of India, released the new draft policy for hemoglobinopathies in India.
Europe region held dominant position in the global hemoglobinopathy market in 2018, accounting for 32.6% share in terms of value, followed by North America.
Global Hemoglobinopathy Market: Restraints
Failing clinical trials for the treatment of sickle cell anemia are expected to hinder the market growth. For instance, in August 2019, Pfizer Inc. announced that the Phase III Rivipansel pivotal study, to evaluate the efficacy and safety of rivipansel in patients aged six and older with sickle cell disease, failed to achieve its primary or key secondary efficacy endpoints.
Moreover, lack of a permanent cure for hemoglobinopathy disorders is also expected to limit the market growth. Most treatment options available focus on reducing symptoms of the disorders and the only reliable treatment available is bone marrow transplant, which is a very complex and expensive procedure and is also associated with some side effects.
Global Hemoglobinopathy Market: Opportunities
The epidemiological data for hemoglobinopathies is incomplete and the precise burden of these disorders is unknown in several developing economies. Therefore, identifying the socio-economic burden of these disorders is expected to offer lucrative growth opportunities for players in the market.
Moreover, awareness and education programs in the community, schools, and colleges regarding hemoglobinopathies is also expected to aid in growth of the market.
Routine Red Blood Cell (RBC) count segment in the global hemoglobinopathy market was valued at US$ 161.4 Mn in 2019 and is expected to reach US$ 277.9 Mn by 2027 at a CAGR of 7.4% during the forecast period.
Market Trends/Key Takeaways
Hematopoietic stem cell transplantation is the only validated curative treatment of sickle cell disease. Although hematopoietic stem cell transplantation reverses accelerated coagulation reactions in children with sickle cell disease, it is necessary to assess the clinical influence and the underlying mechanisms of the changes induced by hematopoietic stem cell transplantation on coagulation in sickle cell disease.
Research and development of novel technologies that may aid in treatment of sickle cell anemia is expected to boost the market growth. For instance, in July 2019, researchers from Florida Atlantic University, in a study published in the journal ACS Sensors, demonstrated a microfluidic impedance assay that can monitor the dynamic cell sickling and unsickling processes.
Global Hemoglobinopathy Market: Competitive Landscape
Major players operating in the global hemoglobinopathy market include, Abbott Diagnostics, Bio-Rad Laboratories, Inc., Danaher Corp., ReachBio Research Labs, Mindray Medical International Ltd., Nexcelom Bioscience LLC, Nihon Kohden Europe Ltd., PerkinElmer Inc., Siemens Healthineers, and Sysmex Europe GmbH
Global Hemoglobinopathy Market: Key Developments
Major players in the market are focused on launching platforms to screen drugs for the treatment of sickle cell disease. For instance, in August 2019, ReachBio Research Labs started offering a drug screening platform to assess fetal hemoglobin protein induction in drug candidates for the treatment of sickle cell disease.
Major players in the market are also focused on conducting clinical trials related to hemoglobinopathies. For instance, in September 2018, AstraZeneca initiated its clinical trial for Ticagrelor, a drug for the treatment of sickle cell disease.
Hemoglobinopathy includes a range of disorders, which occur due to altered structure of hemoglobin. Hemoglobin is present in the red blood cells that transports oxygen from the lung to the body. Hemoglobinopathy disorder are inherited and are passed on from one generation to another. It is further classified into two categories – 1. Thalassemia Syndrome 2. Structural Hemoglobin Variants. Thalassemia syndrome includes disorder related to synthesis defect. The synthesis defect of alpha globin gives rise to alpha thalassemia and defect in beta globin give rise to beta thalassemia. The structural hemoglobin variants occur due to alteration of alpha and beta chains that causes defect in structure.
Restraints of the Global Hemoglobinopathy Market
High costs, and difficulties associated with diagnosis of hemoglobinopathies such as lack of proper knowledge, and lack of skilled professionals is expected to restrain growth of the market up to certain extent.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 31 market data tables and 27 figures on “Hemoglobinopathy Market – Global forecast to 2027.
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